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1. If the materials price variance is $2,600 Favorable and the materials quantity and labor variances...
Exercise 08-15 Direct materials and direct labor variances LO P3 The following describes production activities of...
Exercise 08-15 Direct materials and direct labor variances LO P3 The following describes production activities of Mercer Manufacturing for the year. 34,000 lbs. at $5.95 per lb 10,600 hours for a total of $220,480 Actual direct materials used Actual direct labor used Actual units produced 63,300 Budgeted standards for each unit produced are 0.50 pound of direct material at $5.90 per pound and 10 minutes of direct labor at $21.80 per hour. AH Actual Hours SH Standard Hours AR Actual...
Last year, our materials price variance was favorable; the materials quantity variance was unfavorable; and the lab...
Last year, our materials price variance was favorable; the materials quantity variance was unfavorable; and the labor efficiency variance was unfavorable. One likely explanation fitting this variance pattern is: O A. Labor costs were higher than expected OB. High quality materials were purchased C. Low quality materials were purchased tortas ware purchased OD. High quality materials were purchased but the labor was badly supervised Reset Selection
1. Compute the price and quantity variances for direct materials. Compute the rate and efficiency variances...
1. Compute the price and quantity variances for direct materials. Compute the rate and efficiency variances for direct labor. Does the pattern of variances suggest that the company's managers have been making trade-offs? Explain. 2, Bargain Guard, which used a standard cost accounting system, manufactured 200,000 boat fenders during the year, using 1,250,000 feet of extruded vinyl purchased at $1.40 per foot. Production required 4,000 direct labor hours that cost $14.50 per hour. The materials standard was 6 feet of...
Check my work Exercise 08-15 Direct materials and direct labor variances LO P3 The following describes...
Check my work Exercise 08-15 Direct materials and direct labor variances LO P3 The following describes production activities of Mercer Manufacturing for the year Ketual direct materials used Actual direct labor used Actual units produced 27,000 lbs. at $4.75 per lb. 8,600 hours for a total of $172,860 51.000 Budgeted standards for each unit produced are 0.50 pound of direct material at $4.70 per pound and 10 minutes of direct labor at $21.00 per hour. AH - Actual Hours SH...
Exercise 23-12 Direct materials and direct labor variances LO P2 Reed Corp, has set the following...
Exercise 23-12 Direct materials and direct labor variances LO P2 Reed Corp, has set the following standard direct materials and direct labor costs per unit for the product it manufactures Direct materials (16 lbs. @ 4 per 1b. Direct labor (3 hrs. @ $16 per hr.) During June the company incurred the following actual costs to produce 8,300 units. Direct materials (135,700 lbs. @ $3.75 per lb.) Direct labor (28,100 hrs. @ $16.15 per hr.). $588,875 453,815 AH - Actual...
Exercise 08-15 Direct materials and direct labor variances LO P3 The following describes production activities of...
Exercise 08-15 Direct materials and direct labor variances LO P3 The following describes production activities of Mercer Manufacturing for the year. Actual direct materials used Actual direct labor used Actual units produced 30,000 lbs. at $5.15 per lb. 9,150 hours for a total of $186,660 54,120 Budgeted standards for each unit produced are 0.50 pound of direct material at $5.10 per pound and 10 minutes of direct labor at $21.40 per hour. AH = Actual Hours SH = Standard Hours...
Direct materials variances Actual: 52,200lb. at $1.75 Standard: 53,800lb. at $1.80 Price Varience - Quantity variance...
Direct materials variances Actual: 52,200lb. at $1.75 Standard: 53,800lb. at $1.80 Price Varience - Quantity variance - Total Direct Materials Cost Varience - also are they Favorable or unfavorable The Following Data Relates to the Direct Materials Cost for the production of 2,500 automobile Tires:
Exercise 21-12 Direct materials and direct labor variances LO P3 Reed Corp. has set the following...
Exercise 21-12 Direct materials and direct labor variances LO P3 Reed Corp. has set the following standard direct materials and direct labor costs per unit for the product it manufactures, Direct materials (14 lbs. Direct Tabor hrs. $15 D $3 per lb.) hr. $4 During June the company incurred the following actual costs to produce 8,100 units. Direct materials (115,500 lbs. $2.70 per lb.) Direct labor (27.600 hrs. $15.10 per hr.). $311,850 AH = Actual Hours SH = Standard Hours...
Ch 08 Ex 8-15 1 Exercise 08-15 Direct materials and direct labor variances LO P3 The following describes production act...
Ch 08 Ex 8-15 1 Exercise 08-15 Direct materials and direct labor variances LO P3 The following describes production activities of Mercer Manufacturing for the year. 15 polnts 28,000 lbs. at $4.90 per lb. 8,650 hours for a total of $174,730 51,600 Actual direct materials used Actual direct labor used Actual units produced еВook Budgeted standards for each unit produced are 0.50 pound of direct material at $4.85 per pound and 10 minutes of direct labor at $21.20 per hour...
Need help finding the materials price Variance. Exercise 10-7 Direct Materials Variances (LO10-1) Huron Company produces...
Need help finding the materials price Variance.
Exercise 10-7 Direct Materials Variances (LO10-1) Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard Quantity or Hours 4.6 pounds 0.2 hours Standard Price or Rate $ 2.50 per pound $18.00 per hour Standard Cost $11.50 $ 2.40 Direct materials Direct labor During the most recent month, the following activity was recorded: a. Twenty thousand pounds...
Exercise 08-15 Direct materials and direct labor variances LO P3 The following describes production activities of Mercer Manufacturing for the year. 34,000 lbs. at $5.95 per lb 10,600 hours for a total of $220,480 Actual direct materials used Actual direct labor used Actual units produced 63,300 Budgeted standards for each unit produced are 0.50 pound of direct material at $5.90 per pound and 10 minutes of direct labor at $21.80 per hour. AH Actual Hours SH Standard Hours AR Actual...
Last year, our materials price variance was favorable; the materials quantity variance was unfavorable; and the labor efficiency variance was unfavorable. One likely explanation fitting this variance pattern is: O A. Labor costs were higher than expected OB. High quality materials were purchased C. Low quality materials were purchased tortas ware purchased OD. High quality materials were purchased but the labor was badly supervised Reset Selection
1. Compute the price and quantity variances for direct materials. Compute the rate and efficiency variances for direct labor. Does the pattern of variances suggest that the company's managers have been making trade-offs? Explain. 2, Bargain Guard, which used a standard cost accounting system, manufactured 200,000 boat fenders during the year, using 1,250,000 feet of extruded vinyl purchased at $1.40 per foot. Production required 4,000 direct labor hours that cost $14.50 per hour. The materials standard was 6 feet of...
Check my work Exercise 08-15 Direct materials and direct labor variances LO P3 The following describes production activities of Mercer Manufacturing for the year Ketual direct materials used Actual direct labor used Actual units produced 27,000 lbs. at $4.75 per lb. 8,600 hours for a total of $172,860 51.000 Budgeted standards for each unit produced are 0.50 pound of direct material at $4.70 per pound and 10 minutes of direct labor at $21.00 per hour. AH - Actual Hours SH...
Exercise 23-12 Direct materials and direct labor variances LO P2 Reed Corp, has set the following standard direct materials and direct labor costs per unit for the product it manufactures Direct materials (16 lbs. @ 4 per 1b. Direct labor (3 hrs. @ $16 per hr.) During June the company incurred the following actual costs to produce 8,300 units. Direct materials (135,700 lbs. @ $3.75 per lb.) Direct labor (28,100 hrs. @ $16.15 per hr.). $588,875 453,815 AH - Actual...
Exercise 08-15 Direct materials and direct labor variances LO P3 The following describes production activities of Mercer Manufacturing for the year. Actual direct materials used Actual direct labor used Actual units produced 30,000 lbs. at $5.15 per lb. 9,150 hours for a total of $186,660 54,120 Budgeted standards for each unit produced are 0.50 pound of direct material at $5.10 per pound and 10 minutes of direct labor at $21.40 per hour. AH = Actual Hours SH = Standard Hours...
Exercise 21-12 Direct materials and direct labor variances LO P3 Reed Corp. has set the following standard direct materials and direct labor costs per unit for the product it manufactures, Direct materials (14 lbs. Direct Tabor hrs. $15 D $3 per lb.) hr. $4 During June the company incurred the following actual costs to produce 8,100 units. Direct materials (115,500 lbs. $2.70 per lb.) Direct labor (27.600 hrs. $15.10 per hr.). $311,850 AH = Actual Hours SH = Standard Hours...
Ch 08 Ex 8-15 1 Exercise 08-15 Direct materials and direct labor variances LO P3 The following describes production activities of Mercer Manufacturing for the year. 15 polnts 28,000 lbs. at $4.90 per lb. 8,650 hours for a total of $174,730 51,600 Actual direct materials used Actual direct labor used Actual units produced еВook Budgeted standards for each unit produced are 0.50 pound of direct material at $4.85 per pound and 10 minutes of direct labor at $21.20 per hour...
Need help finding the materials price Variance.
Exercise 10-7 Direct Materials Variances (LO10-1) Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard Quantity or Hours 4.6 pounds 0.2 hours Standard Price or Rate $ 2.50 per pound $18.00 per hour Standard Cost $11.50 $ 2.40 Direct materials Direct labor During the most recent month, the following activity was recorded: a. Twenty thousand pounds...
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